Market in a Minute

Market in a Minute & StatPak September 2017

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC and Montgomery County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - September 2017 StatPak with Contract Snapshot from August 2017

CONTRACTS: Contract activity in August 2017 was down 1.3% from August 2016, but there were increases in new contracts for homes priced between $500,000 and $999,999. Through the first eight months of 2017, new contract activity is up 2.4% compared to the first eight months of 2016. The average number of days on the market for homes receiving contracts was 43 days in August 2017, down from 54 days in August of last year.

Montgomery County - September 2017 StatPak with Contract Snapshot from August 2017

CONTRACTS: Contract activity in August 2017 was down 4.0% from August 2016, but there were decreases only two of the six price categories. Through the first eight months of 2017, new contract activity is down 4.0% compared to the first eight months of 2016. The average number of days on the market for homes receiving contracts was 49 days in August 2017, down from 54 days in August of last year.

Washington D.C. - September 2017 StatPak with Contract Snapshot from August 2017

CONTRACTS: Contract activity in August 2017 was up 4.9% from August 2016, and there were increases for four of the six price categories. Through the first eight months of 2017, new contract activity is up 4.7% compared to the first eight months of 2016. That’s the best in the metro area. The average number of days on the market for homes receiving contracts was 41 days in August 2017, up slightly from 40 days in August of last year.

Loudoun County - September 2017 StatPak with Contract Snapshot from August 2017

CONTRACTS: Contract activity in August 2017 was down 4.1% from August 2016, and there were decreases in the number of contracts in three of the six price categories. Through the first eight months of 2017, new contract activity is down just 0.8% compared to the first eight months of 2016. The average number of days on the market for homes receiving contracts was 50 days in August 2017, down from 52 days in August of last year.